Tag: Central Bank of Brazil

• Friday, December 15th 2023 - 10:36 UTC

  Brazil: Selic cut for fourth time in a row

  

  Brazil's Central Bank (BCB) cut the Selic benchmark rate for the fourth consecutive time, from 12.25% to 11.75% per annum, in line with market expectations, it was reported in Brasilia. The Selic is now at its lowest level since reaching 10.75% in March 2022.

• Thursday, November 2nd 2023 - 09:39 UTC

  Brazil cuts basic interest rate to 12.25% per year

  

  Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to reduce the economy's basic interest rate (known as the Selic rate) by 0.5 percentage points to 12.25% per year, Agencia Brasil reported.

• Saturday, September 23rd 2023 - 12:04 UTC

  Brazil central bank lowers interest rate for second month running

  

  Brazil’s central bank this week lowered its interest rate by 50 basis points to 12.75% -- its second consecutive rate cut. Banco Central do Brasil last made a rate hike of 50 basis points in August 2022, carrying the rate to 13.75%, the highest since early 2017, and significantly up from a record low of 2% in March 2021.

• Tuesday, August 8th 2023 - 10:25 UTC

  Brazil's Central Bank launches digital currency plan

  

  Brazil's Central Bank (BCB) Monday announced a new digital currency for South America''s largest country, which will be called “Drex” and is not expected to reach account holders before late 2024, Agencia Brasil reported.

• Thursday, August 3rd 2023 - 10:50 UTC

  Relief in Brazil, Central bank lowers benchmark interest rate by 50 basis points

  

  Wednesday relief for the Brazilian government, the central bank decided on a more aggresive rate-cutting reducing its benchmark interest rate by 50 basis points and signaling more of the same in the months ahead due to an improving inflation outlook.

• Tuesday, July 25th 2023 - 11:40 UTC

  Lula expects the Central Bank to lower the benchmark interest rate next week

  

  Brazil's President Luiz Inácio Lula da Silva and his economic team in their ongoing battle with the independent Central Bank, have anticipated they expect a cut in the benchmark interest rate, of at least 25 points, pressuring bank policymakers to lower borrowing costs given a dramatic fall in inflation.

• Thursday, June 22nd 2023 - 15:57 UTC

  Sigh of relief as Brazil leaves bank rate unchanged at 13,75%

  

  Brazil's Central Bank left its benchmark interest rate unchanged but softened its tone regarding further efforts to slow inflation. The bank's monetary policy committee, Copom, left the key Selic rate at 13.75%, where it has stood since August after a series of consistent rate hikes aimed at slowing inflation.

• Thursday, June 15th 2023 - 10:55 UTC

  Brazil: Haddad congratulates Congress and STF for better S&P ratings

  

  Brazil's Finance Minister Fernando Haddad Wednesday said that the improved outlook by the risk rating agency Standard & Poor's (S&P) was due to the harmony between the branches of government, Agencia Brasil reported. In Haddad's view, National Congress and the Federal Supreme Court (STF) have an important role in the S&P's decision, but the Central Bank (BCB) needs to “join the effort” and start reducing the interest rates.

• Thursday, June 1st 2023 - 10:20 UTC

  Brazil's surplus falls 47% interannually in first four months of 2023

  

  Brazil's Central Bank (BCB) reported Wednesday that the South American country's public sector accounts (federal government, states and municipalities, and state-owned companies) recorded a primary surplus of R$ 78.7 billion reais (US$ 15.515 billion) in the first four months of 2023, which represented a 47% YoY drop.

• Monday, April 17th 2023 - 22:40 UTC

  Brazilian analysts 2023 expectations: stronger Real vs the Dollar and economy will grow below 1%

  

  The Brazilian Central Bank released its weekly Focus Bulletin this Monday, which brings together an estimate of the country's economy's future performance by leading financial markets analysts.